Bitcoin is experiencing significant selling pressure, with daily realized losses exceeding $300 million, according to Glassnode data. This metric, which excludes internal transactions and is smoothed over a 90-day average, underscores the ongoing bearish sentiment in the market. Despite maintaining a price above $81,000, major holders are continuing to sell off their assets, indicating a lack of confidence in the current market conditions. The persistent selling pressure highlights the challenges Bitcoin faces in sustaining its recent price levels.